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Oil prices slid more than 3% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices in the face of a slump in oil demand because of the global coronavirus outbreak.

Peugeot boss Carlos Tavares said on Friday PSA and Fiat Chrysler (FCA) will need to review their strategy in China in order to boost sales after the closing of the merger between the two groups.

Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the new coronavirus outbreak, prompting it to cut its quarterly revenue outlook.

Iran's oil minister expects a "very difficult" meeting in Vienna on Friday between OPEC and oil exporting countries that are not part of the group, including Russia, the Iranian energy news service Shana cited him as saying.

Saudi Arabia's state oil firm told buyers that is has delayed publishing its crude official selling prices (OSP) for April until after a meeting between OPEC and its allies, two sources with direct knowledge said.

A Russian high-level source told Reuters on Friday that Moscow would not back an OPEC call for extra reductions in oil output and would only agree to extending existing OPEC+ cuts.

OPEC holds crunch talks with its allies on Friday after the group told Russia and others it wanted an additional 1.5 million barrels per day (bpd) of oil cuts until the end of 2020, saying a big move was needed to deal with the impact of coronavirus.

Global stock markets tumbled on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown.

Oil prices slid 2% on Friday on concerns that Russia may not agree to a steeper OPEC+ output cut to support prices and on the spectre of a prolonged economic slowdown due to the coronavirus outbreak.

Uncertainty over the economic impact of the coronavirus outbreak has prompted at least some winners of the U.S. Lipper Fund Awards to look for companies that can withstand a prolonged pullback.

WeDoctor will push ahead with a Hong Kong listing and invite pitches from investments banks next week to lead an IPO valuing the Chinese healthcare platform at up to $10 billion, two sources with direct knowledge of the matter said.

The coronavirus likely halved China's economic growth in the current quarter compared with the previous three months, more severe than thought just three weeks ago and triggering expectations for earlier interest rate cuts, a Reuters poll found.

EssilorLuxottica expects continued profit growth this year after stronger 2019 results, saying on Friday the outbreak of coronavirus had not hit output at its Italian factories and its production in China was getting back to normal.

Oil slid 1% on Friday as worries about global oil demand and economic growth slowdown caused by the coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices.

Shares in India's Yes Bank dropped nearly 35% on Friday to their lowest in more than a decade, after the central bank took control and set a limit on withdrawals because of a serious deterioration in its financial position.

India's central bank took control of the country's fifth-largest private sector lender Yes Bank on Thursday and imposed limits on withdrawals, spreading confusion and fear among account holders.

The coronavirus outbreak in China is pushing many small businesses to the brink, as efforts to stem its spread left usually bustling streets deserted and malls shut or empty.

Social media giant Facebook Inc and Alphabet Inc's Google on Thursday recommended their San Francisco Bay area employees work from home to minimize the risk of spreading coronavirus.

Social media giant Facebook Inc and Alphabet Inc's Google on Thursday recommended their San Francisco Bay area employees to work from home to minimize the risk of spreading Covid-19.

Uncertainty over the economic impact of the coronavirus outbreak has prompted at least some winners of the U.S. Lipper Fund Awards to look for companies that can withstand a prolonged pullback.